AFEX launches prepaid corporate expenses card

AFEX, one of the world’s largest non-bank providers of payment systems, has joined forces with Wirecard Card Solutions and Payment Card Solutions to launch a prepaid card system that employers can use to manage employee expenses, payroll and incentives. The system enables multiple cards to be managed on a single platform, together with an online portal enabling expenditure limits to be set and funds added or withdrawn from an individual’s account. Card users can capture and upload expenses receipts via their smartphone.

AFEX sees the new card system being used as part of employee recognition schemes as, unlike traditional gift cards, PayFEX can be used across a wide range of outlets, wherever accepts Mastercard. The company also expects significant interest from organisations operating in the so-called ‘gig economy’ as the card provides an alternative to banking when it comes to managing employee payments.